===== SIDA 1 ===== Interim Management Statement Q1 26 26 We create value for people and society by building strong and sustainable businesses “ Investor’s strong financial position is a key strength in today’s volatile environment. Beyond a solid balance sheet, the recurring cash flow is a core enabler of strategy execution. Dividends from Listed Companies, underlying cash flow from Patricia Industries, and contributions from Investments in EQT , provide a strong foundation for capital deployment in the years ahead. ” Christian Cederholm President & CEO of Investor ===== SIDA 2 ===== INVESTOR Q1 2026 – 2 Highlights during the first quarter • Adjusted net asset value (NAV) amounted to SEK 1,125.1bn (SEK 367 per share) on March 31, 2026, a change of SEK 38.0bn, or 3 percent, during the quarter. Total shareholder return amounted to 7 percent, compared to - 1 percent for the SIXRX return index. • Listed Companies generated a total return of 5 percent. Investor acquired shares in Nasdaq and Atlas Copco for SEK 142m and SEK 30m respectively, and divested shares in SEB for SEK 1,520m. • Based on estimated market values, the total return for Patricia Industries amounted to 4 percent ( 5 percent excluding cash) , driven by cash flow, a positive translation effect as the USD strengthened sequentially during the quarter, and multiple expansion. • Within Patricia Industries, sales growth for the major subsidiaries amounted to - 7 percent, of which 3 percent organically in constant currency. Reported EBITA declined 7 percent and adjusted EBITA declined 4 percent. • Mölnlycke reported organic sales growth of 3 percent in constant currency, with the largest business area Wound Care growing 2 percent. The EBITA margin improved compared to last year. • The value change of investments in EQT was - 13 percent. Total net cash flow to Investor amounted to SEK - 206m, including Investor’s purchase of shares in EQT AB for SEK 1,378m. • Leverage was 1.2 percent as of March 31, 2026 (2.1 percent as of December 31, 2025). Gross cash amounted to SEK 37,378m and the average maturity of Investor AB’s debt portfolio was 8.9 years on March 31, 2026. Financial information* 3/31 2026 12/31 2025 Adjusted NAV, SEK m* 1,125,062 1,087,082 Adjusted NAV, SEK per share* 367 355 Reported NAV, SEK m* 1) 984,863 953,705 Reported NAV, SEK per share* 1) 321 311 Market capitalization (both share classes), excl. repurchased shares, SEK m 1,081,360 1,009,998 Share price (B - share), SEK 354.30 330.40 Q1 2026 Q1 2025 Adjusted NAV, sequential change, incl. dividend added back, SEK m* 37,980 - 25,369 Adjusted NAV, sequential change, incl. dividend added back, %* 3 - 3 Reported NAV, sequential change, incl. dividend added back, SEK m* 1) 31,158 - 8,185 Reported NAV, sequential change, incl. dividend added back, %* 1) 3 - 1 Market capitalization, sequential change, incl. dividend added back, SEK m* 71,363 17,716 Market capitalization, sequential change, incl. dividend added back, %* 7 2 Q1 2026 Q1 2025 Consolidated net sales, SEK m 16,130 15,990 Consolidated profit/loss, SEK m 30,105 - 3,048 Basic earnings per share, SEK 9.83 - 0.99 * Financial measures that are not defined or specified in the applicable financial reporting framework. For more information, see pages 17 and 26 - 27. Change in market capitalization with dividend added back reflects the change in total market capitalizatio n (both share classes) with the dividend paid out added back. Change in net asset value with dividend added back includes the full dividend approved by the AGM. 1) In the reported net asset value, the wholly - owned subsidiaries and partner - owned investments within Patricia Industries are reported according to the acquisition and equity method respectively. Methods are further described in Investor AB’s Annual repor t. Overview annual average performance Average annual total return YTD 1 year 5 years 10 years 20 years Adjusted NAV incl. dividend added back, % 3.5 20.8 13.9 Investor B, total return, % 7.2 20.9 17.5 20.1 15.3 SIXRX return index, % - 1.2 11.6 6.3 11.1 9.3 ===== SIDA 3 ===== INVESTOR Q1 2026 – 3 CEO statement Dear fellow shareholders, An already complex geopolitical environment has become even more challenging. Beyond human suffering, the armed conflict in the Middle East is having negative economic repercussions. If prolonged, the damage would become even more severe. Besides ensuring the safety of employees, a gility will be key for companies to handle demand swings (in the region and outside ), cost increases, on energy and beyond, and potential supply chain disruptions. I am confident that our companies will manage these challenges, supported by empowered people and strong company cultures. As always, the long - term success of our companies is determined by how well they develop and deliver innovative value - adding products and solutions to customers. Their starting point is strong, with leading market positions in their respective industries . But make no mistake. Competition is tough , not the least from Chinese companies with rising ambitions and capabilities. As stated here before we need to embrace and adapt, not only to lower production costs, but also to faster product development cycles and deployment of new technology. If we snooze, we lose. During the quarter, our adjusted net asset value increased by 3 percent, and our total return was 7 percent. Listed Companies Listed Companies generated a total return of 5 percent. Investments were made in Nasdaq and Atlas Copco at valuations deemed attractive. As in prior quarters, we sold shares in SEB to maintain our ownership level as the bank continued to buy back shares. A fter cancellation of the repurchased shares is completed, our ownership will be a pproximately 22 percent. The AGM season is well underway. It is encouraging to see a number of great additions to the boards and increases in board remunerations in many companies - an important step to close the gap to international peers. Based on AGM proposals and current exchange rates, we expect to receive SEK 14.4bn in ordinary dividends from Listed Companies, approximately 2 percent more than last year. In addition to ordinary dividends, several companies have announced extraordinary d ividends . Focus on the implementation of value - creating AI remains high. Nasdaq’s Verafin software uses agentic AI to improve productivity for customers , transforming the fight against fraud and money laundering. By applying AI in network planning and optimization, Ericsson helps improve customers’ capital efficiency and return on investment. While these are examples of great advances, we have much more to do, and the untapped potential remains si g nificant . Patricia Industries Total return amounted to 4 percent, with contribution from cash flow, a positive translation effect as the USD strengthened sequentially during the quarter, and multiple expansion. The major subsidiaries reported a sales decline of 7 percent, largely reflecting negative currency effects. On a constant currency basis, organic sales grew by 3 percent, primarily driven by Laborie, BraunAbility, Sarnova, and Mölnlycke. Adjusted EBITA dec lined by 4 percent, significantly impacted by the weaker USD compared to last year. Margins held up well across most companies, despite headwinds from tariffs and currency movements, underlining the im portance of focus on operational e fficiency. Mölnlycke reported organic sales growth of 3 percent in constant currency, supported by all business areas, albeit with lower growth in Wound Care this quarter. The EBITA margin improved, supported by cost control. During the quarter, CFO Guillaume Joucla was appointed interim CEO, and the process of recruiting a permanent successor is ongoing. Nova Biomedical grew organic sales by 1 percent in constant currency, against a particularly strong compar ison quarter for the acquired business. Margins improved significantly compared to last year, supported by progress in integration work. In connection with a Patricia Industries’ board meeting, we visited Nova Biomedical’s facilities in the Boston, Massachuset ts, area, and were encouraged by the progress of the integration. The company’s long - term prospects for profitable growth were clearly reaffirmed. Vectura announced the acquisition of the remaining 50 percent in GoCo Health Innovation City in Gothenburg, with Patricia Industries contributing capital to fund this strategic acquisition. Investments in EQT Investments in EQT had a negative impact on net asset value due to the share price decline in EQT AB. Investor invested an additional SEK 1.4bn in EQT AB shares . The value of our fund investments rose slightly, and net cash flow from these investments to Investor was SEK 1.2bn. Financial position Investor’s strong financial position is a key strength in today’s volatile environment. At 1 percent, leverage remains at the lower end of our target range. Beyond a solid balance sheet, the recurring cash flow is a core enabler of strategy execution. Dividends from Listed Companies, underlying cash flow from Patricia Industries, and contributions from Investments in EQT , provide a strong foundation for capital deployment in the years ahead. Going forward The operating environment has become increasingly unpredictable over the past several years . Experience shows, however, that periods like these allow high - quality companies to further strengthen their competitive positions. We actively support our companies in driving profitable growth today, while ensuring continued investment in innovation, including AI, the green transition, and geographic expansion , to drive value creation for years to come. Investor’s financial flexibility positions us well to both invest and pay a steadily rising dividend over time, ultimately generating attractive total returns for you, our shareholders. Thank you for your trust in our work. Christian Cederholm President & CEO ===== SIDA 4 ===== INVESTOR Q1 2026 – 4 Net asset value overview Adjusted values Reported values Number of shares Ownership capital/votes (%) Share of total assets (%) Value, SEK m Value, SEK m Value, SEK m Value, SEK m 3/31 2026 3/31 2026 3/31 2026 3/31 2026 12/31 2025 3/31 2026 12/31 2025 Listed Companies ABB 265,385,142 14.4/14.4 17 199,020 182,966 199,020 182,966 Atlas Copco 840,268,390 17.1/22.3 12 135,883 138,888 135,883 138,888 Saab 163,890,488 30.2/39.7 9 100,645 88,419 100,645 88,419 AstraZeneca 51,587,810 3.3/3.3 8 95,928 88,009 95,928 88,009 SEB 438,198,927 21.5/21.5 7 75,502 87,230 75,502 87,230 Sobi 122,881,259 34.4/34.4 4 48,145 40,821 48,145 40,821 Nasdaq 58,382,426 10.3/10.3 4 47,169 51,999 47,169 51,999 Epiroc 207,635,622 17.1/22.7 4 47,056 43,325 47,056 43,325 Wärtsilä 104,711,363 17.7/17.7 3 36,042 34,390 36,042 34,390 Ericsson 334,492,541 9.9/24.8 3 35,449 30,291 35,449 30,291 Husqvarna 96,825,353 16.8/33.9 0 3,570 4,483 3,570 4,483 Electrolux 50,786,412 17.9/30.4 0 2,964 3,255 2,964 3,255 Electrolux Professional 58,941,654 20.5/32.5 0 2,938 3,822 2,938 3,822 Total Listed Companies 73 830,310 797,899 830,310 797,899 Patricia Industries Total exposure (%) Major subsidiaries Mölnlycke 1) 99.7 7 82,262 74,403 18,348 17,402 Laborie 98.6 3 30,054 31,820 8,332 8,198 Nova Biomedical 99.1 3 29,939 29,946 22,491 21,615 Sarnova 95.8 2 22,105 20,147 5,875 5,656 Permobil 1) 99.4 1 14,567 15,368 4,570 4,377 Piab Group 1) 98.0 1 12,379 11,951 7,125 6,955 BraunAbility 95.3 1 9,927 9,469 297 187 Vectura 99.7 0 3,454 3,385 4,557 4,485 Atlas Antibodies 95.1 0 607 744 1,093 1,047 Total major subsidiaries 18 205,294 197,235 72,688 69,922 Tre Skandinavien 40.0/40.0 1 10,509 8,894 2,915 2,828 Financial I nvestments 0 1,972 1,982 1,972 1,982 Total Patricia Industries excl. cash 19 217,775 208,110 77,575 74,733 Total Patricia Industries incl. cash 230,108 225,396 89,909 92,019 Investments in EQT EQT AB 182,092,483 14.7/14.7 5 52,279 65,284 52,279 65,284 Fund investments 3 38,523 39,106 38,523 39,106 Total Investments in EQT 8 90,802 104,390 90,802 104,390 Other Assets and Liabilities 0 109 71 109 71 Total Assets excl. cash Patricia Industries 100 1,138,995 1,110,470 998,796 977,092 Gross debt* - 51,311 - 50,507 - 51,311 - 50,507 Gross cash* 37,378 27,119 37,378 27,119 Of which Patricia Industries 12,333 17,286 12,333 17,286 Net debt - 13,933 - 23,387 - 13,933 - 23,387 Net asset value 1,125,062 1,087,082 984,863 953,705 Net asset value per share 367 355 321 311 1) Including receivables related to Management Participation Program foundations. ===== SIDA 5 ===== INVESTOR Q1 2026 – 5 Overview For balance sheet items, figures in parentheses refer to year - end 2025 figures. For income statement and cash flow items, they refer to the same period last year. Net asset value During the first quarter of 2026, adjusted net asset value increased from SEK 1,087.1bn to SEK 1,125.1bn. The change in adjusted net asset value was 3 percent ( - 3). Reported net asset value increased from SEK 953.7bn to SEK 984.9bn. The change in reported net asset value was 3 percent ( - 1). Total adjusted assets by business area Net debt and cash flow Net debt totaled SEK 13,933m on March 31, 2026 (23,387), corresponding to leverage of 1.2 percent (2.1). Our target leverage range is 0 - 10 percent (net debt/total adjusted assets) over a business cycle. While leverage can fluctuate above and below the target level, it should not exceed 20 percent for a longer period of time. Gross cash amounted to SEK 37,378m (27,119) and gross debt to SEK 51,311m as of March 31, 2026 (50,507). The average maturity of Investor AB’s debt portfolio was 8.9 years on March 31, 2026 (9.2). Leverage development Investor’s net debt SEK m Q1 2026 Q1 2025 Opening net debt - 23,387 - 12,194 Listed Companies Dividends 9,794 1,575 Divestments 1,520 - Investments - 173 - 13 Management cost - 47 - 46 Total 11,093 1,516 Patricia Industries Proceeds (distributions, divestitures, other) 144 1,116 Investments - 395 - 160 Internal transfer Investor/Patricia Industries - 4,642 - 4,223 Management cost - 98 - 101 Other 1) 38 - 14 Total - 4,953 - 3,382 Investments in EQT Proceeds (fund distributions, other) 2,037 748 Investments (fund drawdowns, co - investments, other) - 2,240 - 1,681 Management cost - 3 - 3 Total - 206 - 937 Investor groupwide Internal transfer Investor/Patricia Industries 4,642 4,223 Management cost - 41 - 45 Other 2) - 1,081 1,233 Closing net debt - 13,933 - 9,586 1) Includes currency - related effects and net interest paid. 2) Includes currency - related effects, revaluation of debt and net interest paid. Management cost Investor’s management cost amounted to SEK 190m during the first quarter 2026 (195). As of March 31, 2026, rolling 12 - month management cost amounted to SEK 789m (773), corresponding to 0.07 percent of the adjusted net asset value (0.08). The Investor share The price of the Investor A - share and B - share was SEK 351.00 (328.70) and SEK 354.30 (330.40) respectively on March 31, 2026. The total shareholder return (Class B - share) amounted to 7 percent during the first quarter 2026 (2). The SIXRX return index declined by 1 percent during the first quarter 2026 (0). Investor’s market capitalization, excluding repurchased shares, was SEK 1,081,360m as of March 31, 2026 (1,009,998). Average annual total return 0 200 000 400 000 600 000 800 000 1 000 000 1 200 000 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 SEK m Listed Companies Patricia Industries ex cash Investments in EQT -5 0 5 10 15 20 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Percent Leverage target range Leverage 0 5 10 15 20 25 1 year 5 years 10 years 20 years Percent Investor B SIXRX ===== SIDA 6 ===== INVESTOR Q1 2026 – 6 Listed Companies Highlights during the quarter • Shares in Nasdaq and Atlas Copco were purchased for a total of SEK 171m. • Shares in SEB were divested for SEK 1,520m. Performance Total return (excluding management costs) amounted to 5 percent during the first quarter 2026 ( - 1). The SIXRX return index was - 1 percent during the first quarter 2026 (0). Total return, Listed Companies Contribution to net asset value (adjusted and reported) amounted to SEK 43,505m during the first quarter 2026 ( - 6,908). Contribution to net asset value SEK m Q1 2026 Q1 2025 Changes in value 33,759 - 11,597 Dividends 9,794 4,735 Management cost - 47 - 46 Total 43,505 - 6,908 Contribution to net asset value and total return Q1 2026 Value, SEK m Contribution, SEK m Total return (%) 1) ABB 199,020 18,990 10.3 Atlas Copco 135,883 - 3,035 - 2.2 Saab 100,645 12,226 13.8 AstraZeneca 95,928 8,924 10.1 SEB 75,502 - 5,388 - 6.1 Sobi 48,145 7,324 17.9 Nasdaq 47,169 - 4,831 - 9.3 Epiroc 47,056 3,731 8.6 Wärtsilä 36,042 2,542 7.4 Ericsson 35,449 5,158 17.0 Husqvarna 3,570 - 913 - 20.4 Electrolux 2,964 - 292 - 9.0 Electrolux Professional 2,938 - 884 - 23.1 Total 830,310 43,552 5.5 1) Calculated as the sum of share price changes with reinvested dividends, including add - on investments and/or divestments. Dividends received Dividends received totaled SEK 9,794m during the first quarter 2026 (4,735). Based on AGM proposals and current exchange rates, we expect to receive SEK 14,376m in ordinary dividends, and an additional SEK 3,363m in extraordinary dividends, during 2026. Dividends received, Listed Companies Investments and divestments During the first quarter 2026, 200,000 shares in Nasdaq were purchased for a total consideration of SEK 142m and 214,635 B - shares in Atlas Copco were purchased for a total consideration of SEK 30m. During the first quarter 2026, 8,000,000 A - shares in SEB were divested with proceeds to Investor of SEK 1,520m. Listed Companies, value distribution, March 31 , 2026 -30 -20 -10 0 10 20 30 2022 2023 2024 2025 2026 Percent Listed Companies SIXRX 0 2 000 4 000 6 000 8 000 10 000 12 000 14 000 16 000 2022 2023 2024 2025 3m 2026 SEK m Ordinary dividend Extra dividend Electrolux 0% Electrolux Professional 0% Husqvarna 0% Wärtsilä 4% Ericsson 4% Sobi 6% Epiroc 6% Nasdaq 6% AstraZeneca 12% SEB 9% Saab 12% Atlas Copco 16% ABB 24% SEK 830bn Listed Companies include ABB, AstraZeneca, Atlas Copco, Electrolux, Electrolux Professional, Epiroc, Ericsson, Husqvarna, Nas daq, Saab, SEB, Sobi and Wärtsilä. These are multinational companies with strong market positions and proven track records. ===== SIDA 7 ===== INVESTOR Q1 2026 – 7 Patricia Industries Patricia Industries develops private companies in the Nordics and in North America. Holdings include Atlas Antibodies, BraunA bility, Laborie, Mölnlycke, Nova Biomedical, Permobil, Piab Group, Sarnova, Vectura, Tre Skandinavien and Financial I nvestments Highlights during the quarter • Total return amounted to 4 percent, with contribution from cash flow , a positive translation effect as the USD strengthened sequentially during the quarter , and multiple expansion . • Vectura announced the strategic acquisition of the remaining 50 percent ownership in GoCo Health Innovation City, Gothenburg. Operating performance During the first quarter 2026, sales growth for the major subsidiaries was - 7 perce nt (7). Organic growth was 3 percent in constant currency (5). EBITA amounted to SEK 3,219m (3,475), a decrease of - 7 percent (5). Adjusting for items affecting comparability, EBITA declined by 4 percent ( 9 ). As of March 31, 2026, on a rolling 12 - month basis, the companies’ (subsidiaries and 40 percent of Tre Skandinavien) combined sales and EBITDA amounted to SEK 68.6bn and SEK 17.3bn respectively. During the first quarter 2026, sales and EBITDA amounted to SE K 17.0bn, and SEK 4.2bn respectively. Patricia Industries, adjusted values, March 31, 2026 Reported EBITDA (subsidiaries & 40% of Tre Skandinavien) Major subsidiaries, performance Q1 2026 SEK m Sales Org. growth, constant currency EBITDA EBITDA (%) EBITA 1) EBITA (%) Operating cash flow Mölnlycke 5,501 3 1,516 27.6 1,321 24.0 1,413 Laborie 1,260 6 317 25.2 301 23.9 14 Nova Biomedical 1,598 1 563 35.3 516 32.3 557 Sarnova 2,848 4 481 16.9 434 15.2 508 Permobil 1,377 - 1 269 19.5 207 15.0 178 Piab Group 879 1 219 24.8 180 20.5 90 BraunAbility 2,464 5 309 12.5 256 10.4 - 56 Vectura 98 42 59 60.8 - 2 - 2.2 - 46 Atlas Antibodies 59 - 17 15 24.5 6 10.8 - 7 Total 16,084 3,749 23.3 3,219 20.0 2,651 Reported growth y/y, % - 7 - 6 - 7 Organic growth, y/y, % 3 1) EBITA is defined as operating profit before acquisition - related amortizations. Mölnlycke 38% Laborie 14% Nova Biomedical 14% Sarnova 10% Permobil 7% Piab Group 6% Tre Skandinavien 5% BraunAbility 5% Vectura 2% Financial Investments 1% Atlas Antibodies 0% SEK 218bn 0 2 000 4 000 6 000 8 000 10 000 12 000 14 000 16 000 18 000 0 1 000 2 000 3 000 4 000 5 000 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 SEK m Quarterly LTM (RHS) ===== SIDA 8 ===== INVESTOR Q1 2026 – 8 Value development Contribution to adjusted net asset value amounted to SEK 9,340m during the first quarter 2026 ( - 20,575) . Contribution to adjusted net asset value SEK m Q1 2026 Q1 2025 Changes in value 9,414 - 20,493 Management cost - 98 - 101 Other 25 18 Total 9,340 - 20,575 Based on estimated market values, the total return for Patricia Industries amounted to 4 percent (5 percent excluding cash) during the first quarter 2026 ( - 9). Cash flow, a positive translation effect as the USD strengthened sequentially during the quarter, and multiple expansion, contributed to the return during the first quarter . For more information on valuation, see page 30. Investments and divestments During the first quarter 2026, investments amounted to SEK 395m (160) . Divestments amounted to SEK 3m during the first quarter 2026 (15) . Distributions received During the first quarter 2026, distributions to Patricia Industries amounted to SEK 141m (1,101), mainly related to distribution from Laborie and Piab Group. Distribution to Patricia Industries Patricia Industries, net cash SEK m Q1 2026 Q1 2025 Beginning of period 17,286 15,666 Net cash flow - 251 956 Internal transfer Investor/Patricia Industries - 4,642 - 4,223 Other 1) - 60 - 114 End of period 12,333 12,284 1) Includes currency - related effects, net interest and management cost. Patricia Industries – valuation overview Estimated market values, SEK m, 3/31, 2026 Change Q1 2026 vs. Q4 2025 SEK m Major drivers Comments Major subsidiaries Mölnlycke 82,262 7,860 Multiples impacted positively Applied EV/adjusted LTM EBITDA 15.6x Laborie 30,054 - 1,766 Multiples impacted negatively, currency impacted positively Applied EV/adjusted LTM EBITDA 16.9x Nova Biomedical 29,939 - 7 Multiples impacted negatively, earnings and currency impacted positively Applied EV/adjusted LTM EBITDA 17.7x Sarnova 22,105 1,958 Multiples and currency impacted positively Applied EV/adjusted LTM EBITDA 14.8x Permobil 14,567 - 802 Earnings impacted negatively Applied EV/adjusted LTM EBITDA 14.2x Piab Group 12,379 428 Multiples impacted positively, earnings impacted negatively Applied EV/adjusted LTM EBITDA 17.6x BraunAbility 9,927 457 Currency and earnings impacted positively Applied EV/adjusted LTM EBITDA 11.5x Vectura 3,454 69 No major drivers Estimated market value of the property portfolio less debt and cost Atlas Antibodies 607 - 138 Earnings impacted negatively Applied EV/adjusted LTM EBITDA 15.1x Partner - owned investments Tre Skandinavien 10,509 1,615 Multiples and earnings impacted positively Applied EV/reported LTM EBITDA 7.1x Financial investments 1,972 - 9 Multiple or third - party valuation Total 217,775 Total incl. cash 230,108 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 9 000 10 000 2022 2023 2024 2025 YTD 2026 SEK m ===== SIDA 9 ===== INVESTOR Q1 2026 – 9 A world - leading medtech company that specializes in sustainable solutions for wound care and surgical procedures. Read more at www.molnlycke.com Activities during the quarter Group • Organic sales growth amounted to 3 percent in constant currency, driven by all business areas. • The EBITA margin improved compared to last year, driven by cost control. Currency effects, lower manufacturing absorption and tariffs impacted negatively . • Guillaume Joucla (Group CFO) was appointed interim CEO of Mölnlycke , succeeding Zlatko Rihter as of March 24, 2026. Wound Care • Organic sales growth amounted to 2 percent in constant currency. US growth remained healthy, albeit at lower levels than in the prior quarters. APAC, including China, continued to perform strongly. EMEA d ecline d, mainly driven by the Middle East and continu ed challenging market conditions in France. Operating Room Solutions • Organic sales growth amounted to 3 percent in constant currency , driven by the Trays assortment . Gloves • Organic sales growth amounted to 6 percent in constant currency, driven by the US. Antiseptics • Organic sales growth amounted to 11 percent in constant currency, driven by the US market, while EMEA declined. Mölnlycke, sales and margin development Key figures, Mölnlycke Income statement items, EUR m Last 12 months Q1 2026 Q1 2025 Sales 514 519 2,099 EBITDA 142 140 598 EBITA 124 121 524 Sales growth, % - 1 4 Organic growth, constant currency, % 3 3 EBITDA, % 27.6 26.9 28.5 EBITA, % 24.0 23.3 24.9 Cash flow items, EUR m Q1 2026 Q1 2025 EBITDA 142 140 Lease payments - 6 - 6 Change in working capital 12 - 73 Capital expenditures - 16 - 14 Operating cash flow 132 48 Acquisitions/divestments - - Shareholder contribution/distribution - - Other 1) - 49 - 31 Increase( - )/decrease(+) in net debt 83 17 Key ratios Working capital/sales, % 22 Capital expenditures/sales, % 4 Balance sheet items, EUR m 3/31 2026 12/31 2025 Net debt 1,798 1,881 3/31 2026 3/31 2025 Number of employees 8,320 8,725 1) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. Mölnlycke, distribution of sales and organic sales growth Share of sales, (%) Organic growth, constant currency, (%) Last 12 months Q1 2026 Wound Care 60 2 Operating Room Solutions 25 3 Gloves 12 6 Antiseptics 3 11 Total 100 3 Mölnlycke, distribution of sales by geography Share of sales, (%) 2025 Europe, Middle East, Africa 56 Americas 34 Asia Pacific 10 Total 100 0 5 10 15 20 25 30 35 0 100 200 300 400 500 600 700 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 EUR m Sales EBITDA, % EBITA, % ===== SIDA 10 ===== INVESTOR Q1 2026 – 10 A provider of diagnostic and therapeutic products for the Urology, Gastroenterology, Obstetrics, Neonatal & Gynecology markets. Read more at www.laborie.com Activities during the quarter • Organic sales growth amounted to 6 percent in constant currency, driven by Urology, with the Optilume TM urethral strictures product contributing significantly. The recently acquired JADA ® product has been integrated into the Maternal & Child Health business unit and performed well. • Adjusted for USD 9m of costs related to the JADA ® acquisition, the EBITA margin increased, driven by product mix and partially offset by commercial investments. • On January 28, 2026, Laborie completed its previously announced acquisition of the JADA ® system, a medical device that uses a low - level vacuum to control and treat abnormal postpartum uterine bleeding or hemorrhage. The acquisition adds an innovative, highly complementary product to Laborie’s Maternal & Child Health business unit. Laborie fun ded the acquisition with cash on hand and external debt, paying USD 4 32 m at closing . For the 12 - month periods ending December 31, 2025, and December 31, 2024, JADA ® revenues amounted to USD 74m and USD 61m, respectively, with profitability in line with Laborie's historical levels. In January, Laborie also completed a Urotronic acquisition milestone payment of USD 68m due to achievement of a reimbursement milestone for the Optilume TM BPH product. Key figures, Laborie Income statement items, USD m Last 12 months Q1 2026 Q1 2025 Sales 138 115 507 EBITDA 35 35 144 EBITA 33 33 137 Sales growth, % 20 13 Organic growth, constant currency, % 6 14 EBITDA, % 25.2 30.9 28.4 EBITA, % 23.9 29.1 27.0 Cash flow items, USD m Q1 2026 Q1 2025 EBITDA 35 35 Lease payments - 1 - 1 Change in working capital - 29 - 9 Capital expenditures - 3 - 2 Operating cash flow 2 23 Acquisitions/divestments - 500 - Shareholder contribution/distribution - - Other 1) - 38 - 10 Increase( - )/decrease(+) in net debt - 536 13 Key ratios Working capital/sales, % 18 Capital expenditures/sales, % 3 Balance sheet items, USD m 3/31 2026 12/31 2025 Net debt 850 314 3/31 2026 3/31 2025 Number of employees 1,170 1,045 1) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. A global provider of scientific and analytical solutions for the biopharma, clinical and food & beverage industries. Read more at www.novabiomedical.com Activities during the quarter • O rganic sales growth amounted to 1 percent in constant currency, impacted by a challenging comparison quarter with notably strong clinical instrument sales in the prior year period. Both biopharmaceutical and clinical products grew during the quarter. • The EBITA margin increased significantly, driven by efficiency improvements as the integration progresses, partially offset by higher investments in general and administrative functions to support the integrated company, as well as elevated manufacturing c osts for certain products due to higher material costs. Key figures, Nova Biomedical 1) Income statement items, USD m Last 12 months Q1 2026 Q1 2025 Sales 175 171 663 EBITDA 62 48 218 EBITA 56 44 201 Sales growth, % 3 8 Organic growth, constant currency, % 1 8 EBITDA, % 35.3 28.0 32.9 EBITA, % 32.3 26.0 30.4 Cash flow items, USD m 2) Q1 2026 Q1 2025 EBITDA 62 n /a Lease payments - 1 n /a Change in working capital 2 n /a Capital expenditures - 2 n /a Operating cash flow 61 n/a Acquisitions/divestments - n/a Shareholder contribution/distribution - n/a Other 3) - 9 n/a Increase( - )/decrease(+) in net debt 52 n/a Key ratios Working capital/sales, % 16 Capital expenditures/sales, % 1 Balance sheet items, USD m 3/31 2026 12/31 2025 Net debt 726 778 3/31 2026 3/31 2025 Number of employees 1,850 1,930 1) Nova Biomedical added pro forma for figures 2025 unless otherwise stated. EBITDA and EBITA adjusted for transaction and integration costs. 2) Nova Biomedical cash flow and net debt not added pro forma. 3) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. ===== SIDA 11 ===== INVESTOR Q1 2026 – 11 A US provider of specialty healthcare and safety products, services and software for the US emergency medical services (EMS), acute care and cardiac response markets. Read more at www.sarnova.com Activities during the quarter • Organic sales growth amounted to 4 percent in constant currency, driven by strong growth in the Cardiac Response and Emergency Preparedness business units, partially offset by a strong compar ison quarter for the Acute Care and Emergency Medical Services (EMS) revenue cycle management (RCM) businesses. • The EBITA margin decreased slightly, driven primarily by additional expenses to support the Quick Med Claims and Golden Hour Data Systems EMS RCM businesses acquired in the fourth quarter 2025 but not yet integrated, alongside continued investments in the organization and digital infrastructure. Key figures, Sarnova Income statement items, USD m Last 12 months Q1 2026 Q1 2025 Sales 312 284 1,182 EBITDA 53 50 204 EBITA 47 45 181 Sales growth, % 10 9 Organic growth, constant currency, % 4 2 EBITDA, % 16.9 17.7 17.3 EBITA, % 15.2 15.9 15.3 Cash flow items, USD m Q1 2026 Q1 2025 EBITDA 53 50 Lease payments - 1 - 1 Change in working capital 7 - 7 Capital expenditures - 3 - 6 Operating cash flow 56 36 Acquisitions/divestments - 7 - 7 Shareholder contribution/distribution - - Other 1) - 15 - 12 Increase( - )/decrease(+) in net debt 34 18 Key ratios Working capital/sales, % 17 Capital expenditures/sales, % 2 Balance sheet items, USD m 3/31 2026 12/31 2025 Net debt 939 973 3/31 2026 3/31 2025 Number of employees 1,935 1,525 1) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. A provider of advanced mobility and seating rehab solutions, including powered and manual wheelchairs, pressure - relieving cushions and power - assist devices. Read more at www.permobil.com Activities during the quarter • Organic sales declined by 1 percent in constant currency, driven by EMEA and Americas, while APAC grew. Power Assist Devices contributed negatively to growth. • The EBITA margin declined, negatively impacted by currency, as well as costs related to production facility relocations and the recall of the SmartDrive SpeedControl Dial. • Permobil launched the Comfort Unite, its most advanced backrest system to date, designed to deliver superior comfort, postural support, and pressure distribution. • Permobil launched the new TiLite TR and ZR ultralight titanium wheelchairs, delivering lighter weight, refined aesthetics, and greater adjustability. • Tomas Puusepp, member of the Permobil board since 2016 , will succeed Martin Lundstedt as Chair in June, 2026. Key figures, Permobil Income statement items, SEK m Last 12 months Q1 2026 Q1 2025 Sales 1,377 1,536 6,002 EBITDA 269 333 1,341 EBITA 1) 207 274 1,112 Sales growth, % - 10 4 Organic growth, constant currency, % - 1 3 EBITDA, % 19.5 21.7 22.3 EBITA, % 15.0 17.9 18.5 Cash flow items, SEK m Q1 2026 Q1 2025 EBITDA 269 333 Lease payments - 19 - 19 Change in working capital 20 - 4 Capital expenditures - 92 - 70 Operating cash flow 178 239 Acquisitions/divestments - 28 - Shareholder contribution/distribution - - Other 2) - 243 141 Increase( - )/decrease(+) in net debt - 93 380 Key ratios Working capital/sales, % 21 Capital expenditures/sales, % 5 Balance sheet items, SEK m 3/31 2026 12/31 2025 Net debt 4,186 4,092 3/31 2026 3/31 2025 Number of employees 2,065 2,040 1) EBITA 2025 restated. 2) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. ===== SIDA 12 ===== INVESTOR Q1 2026 – 12 A provider of gripping and moving solutions for end - users and machine manufacturers to improve energy efficiency, productivity and work environment. Read more at www.piabgroup.com Activities during the quarter • Organic sales growth amounted to 1 percent in constant currency. Lifting Automation and Vacuum Automation contributed to growth, while Vacuum Conveying declined. Regionally, Americas and APAC contributed to growth, while EMEA declined. • The EBITA margin decreased, negatively impacted by CEO transition - related costs and tariffs. • Operating cash flow was negatively affected by working capital timing effects , and investments in production capacity and ERP implementation . • Bengt Thorsson was appointed interim CEO of Piab Group, effective May 1, 2026, succeeding Peter Laurin. • Within Vacuum Automation, Piab Group expanded its vacuum gripping portfolio with a lightweight, yet high - payload gripper optimized for collaborative robot applications. Key figures, Piab Group Income statement items, SEK m Last 12 months Q1 2026 Q1 2025 Sales 879 957 3,521 EBITDA 219 259 895 EBITA 180 218 738 Sales growth, % - 8 22 Organic growth, constant currency, % 1 7 EBITDA, % 24.8 27.1 25.4 EBITA, % 20.5 22.8 20.9 Cash flow items, SEK m Q1 2026 Q1 2025 EBITDA 219 259 Lease payments - 18 - 19 Change in working capital - 59 - 25 Capital expenditures - 52 - 22 Operating cash flow 90 193 Acquisitions/divestments - - 181 Shareholder contribution/distribution - 12 - 12 Other 1) - 160 106 Increase( - )/decrease(+) in net debt - 83 106 Key ratios Working capital/sales, % 18 Capital expenditures/sales, % 4 Balance sheet items, SEK m 3/31 2026 12/31 2025 Net debt 3,261 3,178 3/31 2026 3/31 2025 Number of employees 1,530 1,475 1) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. A provider of mobility transportation solutions, including wheelchair accessible vehicles, lifts and seating, storage and securement products. Read more at www.braunability.com Activities during the quarter • Organic sales growth amounted to 5 percent in constant currency, driven by strong growth of commercial Wheelchair Accessible Vehicles. • The EBITA margin was unchanged . Key figures, BraunAbility Income statement items, USD m Last 12 months Q1 2026 Q1 2025 Sales 270 257 1,124 EBITDA 34 31 144 EBITA 28 26 122 Sales growth, % 5 - 3 Organic growth, constant currency, % 5 - 3 EBITDA, % 12.5 12.2 12.8 EBITA, % 10.4 10.1 10.8 Cash flow items, USD m Q1 2026 Q1 2025 EBITDA 34 31 Lease payments - 2 - 2 Change in working capital - 36 - 13 Capital expenditures - 2 - 7 Operating cash flow - 6 10 Acquisitions/divestments - - Shareholder contribution/distribution - - Other 1) - 12 - 6 Increase( - )/decrease(+) in net debt - 19 5 Key ratios Working capital/sales, % 7 Capital expenditures/sales, % 2 Balance sheet items, USD m 3/31 2026 12/31 2025 Net debt 589 570 3/31 2026 3/31 2025 Number of employees 1,955 1,915 1) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. ===== SIDA 13 ===== INVESTOR Q1 2026 – 13 A developer and manager of innovation clusters and commercial properties. Read more at www.vectura.se Activities during the quarter • Total income growth amounted to 14 percent, driven by rental income from Saab’s new R&D - focused office building in Lund which Saab accessed in the fourth quarter 2 025, as well as two elderly care homes in Danderyd and Vallentuna that were completed during the quarter. • The surplus ratio 2) increased by 6 percentage points, driven by recently completed properties with triple net lease agreements. The total pro rata share of Net Operating Income 1) from Joint Ventures amounted to SEK 20m (not consolidated). • During the quarter, Vectura entered an agreement to acquire Next Step Group’s ownership stake in GoCo Health Innovation City in Mölndal, Gothenburg. Before the acquisition, Vectura owned 50 percent of GoCo and has, through this transaction, acquired the remaining ownership , for a combined underlying property value of SEK 2.8bn . The transaction was closed on April 1 , 2026, and Patricia Industries contributed SEK 320m in equity to fund the acquisition. Key figures, Vectura Income statement items, SEK m Last 12 months Q1 2026 Q1 2025 Total income 98 85 384 Net operating income 1) 74 60 280 Surplus ratio, % 2) 76.3 70.0 72.9 Last 12 months Cash flow items, SEK m Q1 2026 Q1 2025 Capital expenditures 3) - 169 - 446 - 890 Balance sheet items, SEK m 3/31 2026 12/31 2025 External net debt 4,144 4,056 Property - related items 3/31 2026 12/31 2025 Property portfolio value, SEK m 7,915 7,738 o/w properties under management 7,136 7,256 LTV, % 52 52 Properties under management, sqm 4) 114,451 106,954 Occupancy rate, % properties under management 99 99 3/31 2026 3/31 2025 Number of employees 45 40 1) Total income – Property costs. 2) Net operating income/Total income. 3) Including contribution to associated companies. 4) Total finalized sqm, leased or available for lease. A provider of advanced reagents for basic and clinical biomedical research. Read more at www.atlasantibodies.com Activities during the quarter • Organic sales declined by 17 percent in constant currency, driven by the evitria business, which continues to be impacted by soft demand, partly offset by growth in HistoCyte Laboratories. • The EBITA margin declined as a result of lower sales, only partially offset by ongoing cost saving initiatives . • Atlas Antibodies introduced a set of recombinant antibodies designed to support translational research and help move discoveries toward practical applications. Key figures, Atlas Antibodies Income statement items, SEK m Last 12 months Q1 2026 Q1 2025 Sales 59 76 248 EBITDA 15 24 52 EBITA 6 16 20 Sales growth, % - 22 - 3 Organic growth, constant currency, % - 17 - 3 EBITDA, % 24.5 31.3 21.0 EBITA, % 10.8 20.8 7.9 Cash flow items, SEK m Q1 2026 Q1 2025 EBITDA 15 24 Lease payments - 3 - 3 Change in working capital - 16 3 Capital expenditures - 3 - 4 Operating cash flow - 7 20 Acquisitions/divestments - - Shareholder contribution/distribution - - Other 1) - 7 - 9 Increase( - )/decrease(+) in net debt - 15 11 Key ratios Working capital/sales, % 90 Capital expenditures/sales, % 5 Balance sheet items, SEK m 3/31 2026 12/31 2025 Net debt 161 146 3/31 2026 3/31 2025 Number of employees 110 105 1) Includes effects of exchange rate changes, interest, tax and change in lease liabilities. ===== SIDA 14 ===== INVESTOR Q1 2026 – 14 A provider of mobile voice and broadband services in Sweden and Denmark. Read more at www.tre.se Activities during the quarter • The subscription base increased by 37,000, of which 18,000 in Sweden and 19,000 in Denmark. • Service revenue increased by 6 percent and EBITDA increased by 10 percent, driven by strong cost control , including positive effects from the operational efficiency program launched in Sweden last year. • SAS selected Tre as its new strategic corporate partner with the recently launched 3Koppla chosen as the unified digital communications platform for SAS’s global operations. T re customers will also gain free access to onboard high - speed Wi - Fi on SAS flights, enabled by Starlink . The service will be rolled - out during 2026. Key figures, Tre Skandinavien Last 12 months Income statement items Q1 2026 Q1 2025 Sales, SEK m 3,119 3,051 13,033 Sweden, SEK m 2,041 1,977 8,614 Denmark, DKK m 752 716 3,021 Service revenue, SEK m 1) 2,298 2,177 9,186 Sweden, SEK m 1,471 1,387 5,907 Denmark, DKK m 577 527 2,242 EBITDA, SEK m 1,191 1,080 4,549 Sweden, SEK m 881 784 3,307 Denmark, DKK m 216 198 849 EBITDA, % 38.2 35.4 34.9 Sweden 43.2 39.6 38.4 Denmark 28.7 27.6 28.1 Key ratios Capital expenditures/sales, % 11 Balance sheet items, SEK m 3/31 2026 12/31 2025 Net debt 6,023 6,441 3/31 2026 3/31 2025 Number of employees 1,935 1,880 Other key figures 3/31 2026 3/31 2025 Subscriptions 4,716,000 4,463,000 Sweden 2,908,000 2,774,000 Denmark 1,808,000 1,689,000 1) Mobile service revenue excluding interconnect revenue. ===== SIDA 15 ===== INVESTOR Q1 2026 – 15 Investments in EQT EQT is a purpose - driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of more than three decades of developing companies across multiple geographies, sectors and s trategies. Investor was one of the founders of EQT in 1994 and has committed capital to the vast majority of its funds. Read more at www.eqtgroup.com Highlights during the quarter • Investor acquired shares in EQT AB for SEK 1,378m. Performance Contribution to net asset value (adjusted and reported) amounted to SEK - 13,794m during the first quarter 2026 (866). The reported value change of Investor’s investments in EQT was - 13 percent during the first quarter 2026, of which - 14 percent in constant currency. Net cash flow to Investor amounted to SEK - 206m during the first quarter. Investments in EQT AB The value change of Investor’s holding in EQT AB amounted to SEK - 14,384 m, corresponding to a total shareholder return of - 22 percent during the first quarter. During the first q uarter 202 6 , Investor acquired shares in EQT AB for SEK 1,378 m. Investments in EQT funds Investor reports the value change on its EQT fund investments with a one - quarter lag. Consequently, the information related to Investor’s investments in EQT funds in this report is presented as of December 31 , 2025. The reported value change of Investor’s investments in EQT funds amounted to 2 percent during the first quarter, of which 0 percent in constant currency. Net cash flow to Investor amounted to SEK 1,172m during the first quarter. Investor’s total outstanding commitments to EQT funds amounted to SEK 26.5bn as of March 31, 2026 (26.8). Change in adjusted net asset value, EQT SEK m Q1 2026 Q1 2025 Net asset value, beginning of period 104,390 88,710 Contribution to net asset value - 13,794 866 Proceeds (fund distributions, other) - 2,037 - 748 Investments (fund drawdowns, co - investments, other) 2,243 1,685 Net asset value, end of period 90,802 90,512 Investor’s investments in EQT, March 31, 2026 1) Investor Fund size EUR m Share (%) Outstanding commitment SEK m Reported value SEK m Real Assets EQT Infrastructure III 4,041 5 10 432 EQT Infrastructure IV 9,100 3 519 3,763 EQT Infrastructure V 15,700 3 890 5,865 EQT Infrastructure VI 21,500 3 3,841 2,958 Other Real Assets 2) - - 384 230 Private Capital EQT VII 6,817 5 58 1,444 EQT VIII 10,750 5 310 4,019 EQT IX 15,600 3 459 6,223 EQT X 21,700 3 3,621 3,572 Other private capital 3) - - 556 9,707 Funds not closed 4) - - 15,659 67 Credit funds 5) - - 238 242 Total investments 26,545 38,523 EQT AB 14.7/14.7 6) 52,279 Total investments in EQT 90,802 1) Investor’s investments in EQT funds are reported with a one - quarter lag. 2) EQT Infrastructure, EQT Infrastructure II, EQT Real Estate I, EQT Real Estate II. 3) EQT MM, EQT MM Asia, EQT MM EU, EQT Ventures, EQT Ventures II, EQT Ventures III, EQT Growth, EQT Future and Fortnox. 4) BPEA IX, EQT XI, EQT Transition Infrastructure and EQT Healthcare Growth. Outstanding commitment is maximum and dependent on final fund size. 5) Divested by EQT AB to Bridgepoint, October 2020. 6) Capital and votes respectively. Investor’s investments in EQT, key figures overview Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 SEK m 2026 2025 2025 2025 2025 2025 2024 2024 2024 2024 2024 Reported value 90,802 104,390 104,390 97,358 96,776 90,512 88,710 88,710 94,492 88,961 92,562 Reported value change, % - 13 15 8 1 4 1 8 - 5 7 - 4 12 Value change, constant currency, % - 14 17 9 1 3 3 7 - 6 7 - 3 10 EQT AB, dividends received 0 762 381 0 381 0 627 314 0 314 0 Proceeds to Investor 2,037 6,976 1,261 3,351 1,616 748 3,726 1,550 898 1,058 222 Investments from Investor 2,243 10,089 427 3,186 4,791 1,685 4,102 953 546 1,376 1,227 Net cash flow to Investor - 206 - 2,351 1,215 165 - 2,794 - 937 252 910 352 - 5 - 1,005 ===== SIDA 16 ===== INVESTOR Q1 2026 – 16 Investor g roup Net debt Net debt totaled SEK 13,933m on March 31, 2026 (23,387). Debt financing of the Patricia Industries’ subsidiaries is arranged without guarantees from Investor and hence not included in Investor’s net debt. Investor guarantees SEK 2. 7 bn of the associated company T re S kandinavien ’s refinanced external debt, but this guaranteed loan is not included in Investor’s net debt. The same applies for pending dividends from investments and approved but not yet paid dividend to shareholders. Net debt, March 31, 2026 SEK m Consolidated balance sheet Deductions related to Patricia Industries subsidiaries Investor’s net debt Other financial investments 20,099 - 594 19,505 Cash, bank and short - term investments 27,695 - 9,822 17,873 Receivables included in net debt 989 - 455 534 Interest bearing debt - 122,117 70,375 - 51,741 Provision for pensions - 958 855 - 104 Total - 74,292 60,359 - 13,933 Investor’s gross cash amounted to SEK 37,378m as of March 31, 2026 (27,119). The short - term investments are invested conservatively, taking into account the risk - adjusted return profile. Investor’s gross debt, excluding pension liabilities, amounted to SEK 51,207m as of March 31, 2026 (50,403). The average maturity of Investor AB’s debt portfolio was 8.9 years on March 31, 2026 (9.2), excluding the debt of the Patricia Industries subsidiaries. Investor is rated AA - (Stable Outlook) by S&P Global and Aa3 (Stable Outlook) by Moody’s. Debt maturity profile, March 31, 2026 Net financial items, Q1 2026 SEK m Group - Net financial items Deductions related to Patricia Industries subsidiaries Investor’s net financial items Interest income 161 - 18 143 Interest expenses - 1,312 962 - 350 Results from revaluation of loans, swaps and short - term investments - 66 - 95 - 161 Foreign exchange result - 701 457 - 244 Other 179 - 57 122 Total - 1,739 1,250 - 489 Share capital Investor’s share capital amounted to SEK 4,795m on March 31, 2026 (4,795). Share structure Class of share Number of shares Number of votes % of capital % of votes A 1 vote 1,246,763,376 1,246,763,376 40.6 87.2 B 1/10 vote 1,821,936,744 182,193,674 59.4 12.8 Total 3,068,700,120 1,428,957,050 100.0 100.0 Investor’s share capital consists of 3,068,700,120 shares with a quota of SEK 1.5625 per share. On March 31, 2026, Investor owned a total of 4,983,471 of its own shares (5,391,065). Other Annual General Meeting Investor AB’s Annual General Meeting will be held on May 7, 2026, at 4.00 p.m. at China Teatern, Berzelii Park 9, Stockholm, Sweden. Registration commences at 2.30 p.m. The AGM will be broadcasted live on www.investorab.com . Notification of participation in the Annual General Meeting can be given until April 30, 2026, through https://www.euroclear.com/sweden/generalmeetings/ , or by calling +46 8 402 9052. Additional information about Investor’s Annual General Meeting is available on Investor’s website. Investor’s Annual report in Swedish is available at the company’s head office and website. Dividend proposal The Board of Directors proposes a dividend to the shareholders of SEK 5.60 per share for fiscal year 2025 (5.20) . The dividend is proposed to be paid out in two installments, SEK 4.00 with record date May 1 1, 2026, and SEK 1.60 with record date November 9, 2026. Should the Annual General Meeting decide in favor of the proposal, payment of the dividend is expected to be made on May 15, 2026, and on November 12, 2026. The dividend proposed is based on the stated dividend policy to pay a stea dily rising dividend, supported by cash flow from our three business areas: Listed Companies, Patricia Industries, and Investments in EQT. Acquisitions (business combinations) Laborie’s acquisition of the JADA® System On January 28, 2026, Laborie acquired the JADA® System, a medical device that uses a low - level vacuum to control 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000 SEK m ===== SIDA 17 ===== INVESTOR Q1 2026 – 17 and treat abnormal postpartum uterine bleeding or hemorrhage , by acquiring 100 percent of Alidia Health, Inc., a subsidiary of Organon LLC . The acquisition of the JADA ® System expands Laborie’s Maternal & Child Health business unit and demonstrates the c ompany’s commitment to delivering innovative, proven solutions to physicians and patients globally. The consideration amounted to SEK 3,817 m and was funded with cash on hand and external debt. A potential additional payment of up to USD 25m contingent on achievement of certain 2026 revenue targets may fall out. In the preliminary purchase price allocation, goodwill amounted to SEK 2,400 m. The goodwill recognized for the ac quisition corresponds to the business’s position to further strengthen their mission to deliver customer - focused innovation to physicians and patients globally. The goodwill recognized is not expected to be deductible for income tax purposes. Transaction - r elated costs amounted to SEK 138 m and derives from external legal fees and due diligence expenses. These costs have been included in the line - item Administrative, research and development and other operating costs in the Group’s consolidated income stateme nt. For the period from the acquisition date until Mach 31, 2026, JADA ® System contributed net sales of SEK 118 m and profit/loss of SEK 28 m to the Group’s result. If the acquisition of JADA ® System had occurred on January 1, 2026, management estimates that consolidated net sales for the Group would have increased by SEK 52 m and consolidated profit/loss for the period would have increased by SEK 17 m. Identifiable assets acquired and liabilities assumed SEK m Jada® System Other Total Intangible assets 1,914 1,914 Deferred tax liabilities - 498 - 498 Net identifiable assets and liabilities 1,417 1,417 Consolidated goodwill 2,400 2,400 Consideration 3,817 3,817 Paid additional purchase price related to acquisitions made in previous periods 619 619 Acquisitions of subsidiaries, net effect on cash flow 3,817 619 4,435 Pledged assets and contingent liabilities Total pledged assets amount to SEK 38.3bn (36.8), of which SEK 33.0bn (31.7) refers to pledged assets in the subsidiaries BraunAbility, Laborie, Nova Biomedical and Sarnova, related to outstanding loans corresponding to SEK 4.9bn (4.8), SEK 8.1bn (3.7), SE K 7.6bn (7.3) and SEK 9.5bn (9.3). Total contingent liabilities amount to SEK 6.8bn and refers to warranties within the wholly - owned subsidiaries and Tre Skandinavien (6.9). Basis of preparation for the Interim Management Statement This Interim Management Statement has in all material aspects been prepared in accordance with NASDAQ Stockholm’s guidelines for preparing interim management statements. The accounting policies that have been applied for the consolidated income statement a nd consolidated balance sheet, are in agreement with the accounting policies used in the preparation of the company’s most recent annual report. Alternative performance measures Investor applies the ESMA Guidelines on Alternative performance measures (APMs). An APM is a financial measure of historical or future financial performance, financial position, or cash flows, other than a financial measure defined or specified in the appl icable financial reporting framework. For Investor’s consolidated accounts, this framework typically means IFRS. Definitions of all APMs used are found in the Annual report 2025 and on www.investorab.com/investors - media/financials/definitions. Reconciliations to the financial statements for the APMs that are not directly identifiable from the financial statements and considered significant to specify, are disclosed on pages 26 - 27. Reconciliations of APMs for individual subsidiaries or business a reas are not disclosed, since the purpose of these are to give deeper financial information without being directly linked to the financial information for the Group, that is presented according to the applicable financial reporting framework. Roundings Due to rounding, numbers presented throughout this Interim Management Statement may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. ===== SIDA 18 ===== INVESTOR Q1 2026 – 18 Financial calendar May 7, 2026 Annual General Meeting Jul. 16, 2026 Interim Report January - June 2026 Oct. 16, 2026 Interim Management Statement January - September 2026 Jan. 22, 2027 Year - End report 2026 Apr. 20, 2027 Interim Management Statement January - March 2027 Stockholm, April 21, 2026 Christian Cederholm President and CEO For more information Jenny Ashman Haquinius Chief Financial Officer +46 8 614 2000 j enny.ashmanhaquinius@investorab.com Jacob Lund Chief Communications & Sustainability Officer +46 72 560 2157 jacob.lund@investorab.com Magnus Dalhammar Head of Investor Relations +46 73 524 2130 m agnus.dalhammar@investorab.com Address Investor AB (publ) (CIN 556013 - 8298) SE - 103 32 Stockholm, Sweden Visiting address: Arsenalsgatan 8C Phone: +46 8 614 2000 www.investorab.com Ticker codes INVEB SS in Bloomberg INVEb.ST in Reuters INVE B in NASDAQ OMX Information about Investor is also available on LinkedIn. This information is information that Investor AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:15 CET on April 21, 2026. This Interim Management Statement and additional information is available on www.investorab.com This Interim Management Statement has not been subject to review by the company’s auditors ===== SIDA 19 ===== INVESTOR Q1 2026 – 19 Consolidated income statement, in summary SEK m Q1 2026 Q1 2025 Dividends 9,793 4,735 Changes in value 20,033 - 10,676 Net sales 16,130 15,990 Cost of goods and services sold - 8,280 - 8,265 Sales and marketing cost - 2,366 - 2,412 Administrative, research and development and other operating cost - 3,160 - 2,980 Management cost - 190 - 195 Share of results of associates 94 113 Operating profit/loss 32,055 - 3,690 Net financial items - 1,739 701 Profit/loss before tax 30,316 - 2,989 Income taxes - 211 - 59 Profit/loss for the period 30,105 - 3,048 Attributable to: Owners of the Parent company 30,112 - 3,032 Non - controlling interest - 7 - 16 Profit/loss for the period 30,105 - 3,048 Basic earnings per share, SEK 9.83 - 0.99 Diluted earnings per share, SEK 9.82 - 0.99 Consolidated statement of comprehensive income, in summary SEK m Q1 2026 Q1 2025 Profit/loss for the period 30,105 - 3,048 Other comprehensive income for the period, including tax Items that will not be recycled to profit/loss for the period Revaluation of property, plant and equipment - - 149 Items that may be recycled to profit/loss for the period Hedging costs 1 - 89 Foreign currency translation adjustment 1,534 - 4,987 Profit/loss from net investment hedge - 410 56 Share of other comprehensive income of associates - 56 - 68 Total other comprehensive income for the period 1,069 - 5,236 Total comprehensive income for the period 31,174 - 8,284 Attributable to: Owners of the Parent company 31,169 - 8,234 Non - controlling interest 6 - 50 Total comprehensive income for the period 31,174 - 8,284 ===== SIDA 20 ===== INVESTOR Q1 2026 – 20 Consolidated balance sheet, in summary SEK m 3/31 2026 12/31 2025 3/31 2025 ASSETS Goodwill 79,267 75,267 66,369 Other intangible assets 38,541 36,407 30,853 Property, plant and equipment 18,084 17,488 17,088 Shares and participations 927,264 908,372 755,193 Other financial investments 20,099 13,910 8,311 Long - term receivables included in net debt 956 1,539 442 Other long - term receivables 4,995 4,738 4,286 Total non - current assets 1,089,206 1,057,719 882,541 Inventories 11,268 11,091 10,261 Shares and participations in trading operation 346 445 307 Short - term receivables included in net debt 33 5 0 Other current receivables 11,627 11,354 14,064 Cash, bank and short - term investments 27,695 22,193 39,019 Total current assets 50,968 45,088 63,650 TOTAL ASSETS 1,140,174 1,102,807 946,191 EQUITY AND LIABILITIES Equity 985,138 953,898 811,515 Long - term interest - bearing liabilities 120,663 114,290 102,605 Provisions for pensions and similar obligations 958 941 1,020 Other long - term provisions and liabilities 18,910 18,348 16,412 Total non - current liabilities 140,532 133,579 120,037 Current interest - bearing liabilities 1,454 1,431 1,303 Other short - term provisions and liabilities 13,050 13,899 13,337 Total current liabilities 14,504 15,330 14,640 TOTAL EQUITY AND LIABILITIES 1,140,174 1,102,807 946,191 Consolidated statement of changes in equity, in summary SEK m Q1 2026 2025 Q1 2025 Opening balance 1/1 953,898 819,752 819,752 Profit for the period 30,105 157,340 - 3,048 Other comprehensive income for the period 1,069 - 7,257 - 5,236 Total comprehensive income for the period 31,174 150,084 - 8,284 Dividend to shareholders - - 15,929 - Changes in non - controlling interest 7 - 1 - 2 Effect of long - term share - based remuneration 58 148 49 Purchase of own shares - - 154 - Closing balance 985,138 953,898 811,515 Attributable to: Owners of the Parent company 984,863 953,705 811,179 Non - controlling interest 275 193 335 Total equity 985,138 953,898 811,515 ===== SIDA 21 ===== INVESTOR Q1 2026 – 21 Consolidated cash flow, in summary SEK m Q1 2026 Q1 2025 Operating activities Dividends received 9,793 1,574 Cash receipts 16,016 15,636 Cash payments - 13,157 - 13,491 Cash flows from operating activities before net interest and income tax 12,651 3,718 Interest received/paid - 564 - 880 Income tax paid - 338 - 458 Cash flows from operating activities 11,750 2,381 Investing activities Acquisitions 1) - 2,387 - 1,713 Divestments 2) 3,560 762 Increase in long - term receivables - 73 - 50 Acquisitions of subsidiaries, net effect on cash flow - 4,656 - Increase in other financial investments 3) - 10,743 - 5,236 Decrease in other financial investments 4) 4,439 334 Net change, short - term investments 5) - 2,453 - 4,189 Acquisitions of property, plant and equipment - 600 - 871 Proceeds from sale of property, plant and equipment 62 19 Net cash used in investing activities - 12,851 - 10,942 Financing activities New share issue 3 - Borrowings 5,729 14,996 Repayment of borrowings - 1,408 - 4,332 Transactions with non - controlling interest - 117 - 267 Net cash used in financing activities 4,208 10,398 Cash flows for the period 3,107 1,836 Cash and cash equivalents at the beginning of the year 14,058 17,220 Exchange difference in cash - 4 - 560 Cash and cash equivalents at the end of the period 17,161 18,496 1) Acquisitions include investments in listed and unlisted companies not defined as subsidiaries. 2) Divestments include sale of listed and unlisted companies not defined as subsidiaries. 3) Increase in other financial investments include acquisition of bonds with maturity later than 1 year. 4) Decrease in other financial investments includes disposals of reclassification of bonds with maturity later than 1 year. 5) Net changes, short - term investments include acquisitions and disposals of bonds or certificates with maturity within 1 year. ===== SIDA 22 ===== INVESTOR Q1 2026 – 22 Performance by business area Q1 2026 SEK m Listed Companies Patricia Industries Investments in EQT Investor Groupwide Total Dividends 9,794 - - - 1 9,793 Changes in value 33,759 78 - 13,768 - 35 20,033 Net sales - 16,130 - - 16,130 Cost of goods and services sold - - 8,280 - - - 8,280 Sales and marketing cost - - 2,366 - - - 2,366 Administrative, research and development and other operating cost - - 3,150 - 2 - 8 - 3,160 Management cost - 47 - 98 - 3 - 41 - 190 Share of results of associates - 94 - - 94 Operating profit/loss 43,505 2,409 - 13,773 - 86 32,055 Net financial items - - 1,250 - - 489 - 1,739 Income tax - - 215 - 4 - 211 Profit/loss for the period 43,505 943 - 13,773 - 570 30,105 Non - controlling interest - 7 - - 7 Net profit/loss for the period attributable to the Parent company 43,505 950 - 13,773 - 570 30,112 Other effects on equity - 1,568 - 21 - 501 1,046 Contribution to net asset value 43,505 2,518 - 13,794 - 1,071 31,158 Net asset value by business area 3/31 2026 Carrying amount 830,310 77,575 90,802 109 998,796 Investors net debt/ - cash - 12,333 - - 26,266 - 13,933 Total net asset value including net debt/ - cash 830,310 89,909 90,802 - 26,158 984,863 Performance by business area Q1 2025 SEK m Listed Companies Patricia Industries Investments in EQT Investor Groupwide Total Dividends 4,735 - - - 1 4,735 Changes in value - 11,597 - 183 1,091 13 - 10,676 Net sales - 15,990 - - 15,990 Cost of goods and services sold - - 8,265 - - - 8,265 Sales and marketing cost - - 2,412 - - - 2,412 Administrative, research and development and other operating cost - - 2,968 - 2 - 10 - 2,980 Management cost - 46 - 101 - 3 - 45 - 195 Share of results of associates - 113 - - 113 Operating profit/loss - 6,908 2,175 1,086 - 43 - 3,690 Net financial items - - 544 - 1,245 701 Income tax - - 133 - 74 - 59 Profit/loss for the period - 6,908 1,498 1,086 1,276 - 3,048 Non - controlling interest - 16 - - 16 Net profit/loss for the period attributable to the Parent company - 6,908 1,513 1,086 1,276 - 3,032 Other effects on equity - - 4,904 - 221 - 28 - 5,153 Contribution to net asset value - 6,908 - 3,390 866 1,248 - 8,185 Net asset value by business area 3/31 2025 Carrying amount 658,831 68,452 90,512 2,970 820,766 Investors net debt/ - cash - 12,284 - - 21,871 - 9,586 Total net asset value including net debt/ - cash 658,831 80,737 90,512 - 18,901 811,179 ===== SIDA 23 ===== INVESTOR Q1 2026 – 23 Financial instruments The numbers below are based on the same accounting and valuation policies as used in the preparation of the company’s most recent annual report. For information regarding financial instruments in level 2 and level 3, see Note 3 2 , Financial i nstruments, in Investor’s Annual r eport 202 5 . Valuation techniques, level 3 Fair value, SEK m Range Group 3/31 2026 12/31 2025 Valuation technique Input 3/31 2026 12/31 2025 Shares and participations 40,870 41,443 Last round of financing n/a n/a n/a Comparable companies EBITDA multiples n/a n/a Comparable companies Sales multiples 1.3 – 3.2 1.6 – 2.9 Comparable transactions Sales multiples 2.2 – 2.3 2.3 – 3.3 NAV n/a n/a n/a Other financial investments 320 309 Discounted cash flow Market interest rate n/a n/a Long - term and current receivables 2,596 2,510 Discounted cash flow Market interest rate n/a n/a Long - term interest - bearing liabilities 247 173 Discounted cash flow Market interest rate n/a n/a Other provisions and liabilities 8,787 9,564 Comparable companies EBITDA multiples n/a n/a All valuations in level 3 are based on assumptions and judgments that management considers to be reasonable based on the circumstances prevailing at the time. Changes in assumptions may result in adjustments to reported values and the actual outc ome may differ from the est imates and judgments that were made. Shares and participations in level 3 are mainly fund investments within EQT. Unlisted holdings in funds are measured at Investor’s share of the value that the fund manager reports for all unlisted fund holdings (Net Ass et Value) and is normally updated when a new valuation is received. The value change on Investor’s investments in EQT funds a re reported with a one - quarter lag. Part of the unlisted portfolio is valued based on comparable companies, and the value is depend ent on the level of the multiples. The multiple ranges provided in the note show the minimum and maximum value of the actual multipl es applied in these valuations. A 10 percent change of the multiples would have an effect on this part of the unlisted portf olio of approximately SEK 85 m (75). For the derivatives, a parallel shift of the interest rate curve by one percentage point would affect the value by ap proximately SEK 290m (300). Financial assets and liabilities by level The table below indicates how fair value is measured for the financial instruments recognized at fair value in the Balance s heet. The financial instruments are presented in three categories, depending on how the fair value is measured: Level 1: According to quoted prices in active markets for identical instruments Level 2: According to directly or indirectly observable inputs that are not included in level 1 Level 3: According to inputs that are unobservable in the market Financial instruments - fair value 3/31 2026 12/31 2025 Group Total carrying Total carrying SEK m Level 1 Level 2 Level 3 Other 1) amount Level 1 Level 2 Level 3 Other 1) amount Financial assets Shares and participations 876,142 6,552 40,870 3,700 927,264 857,317 5,975 41,443 3,636 908,372 Other financial investments 19,638 - 320 141 20,099 13,482 - 309 119 13,910 Long - term receivables included in net debt - 531 425 - 956 - 932 606 - 1,539 Other long - term receivables - - 2,171 2,824 4,995 - - 1,904 2,834 4,738 Shares and participations in trading operation 346 - - - 346 445 - - - 445 Short - term receivables included in net debt - 33 - - 33 - 5 - - 5 Other current receivables - 40 - 11,587 11,627 - 0 - 11,354 11,354 Cash, bank and short - term investments 17,648 - - 10,047 27,695 13,464 - - 8,729 22,193 Total 913,774 7,156 43,786 28,298 993,014 884,708 6,912 44,262 26,673 962,555 Financial liabilities Long - term interest - bearing liabilities - 249 247 120,167 120,663 2) - 250 173 113,867 114,290 2) Other long - term provisions and liabilities - - 8,768 10,142 18,910 - - 8,922 9,427 18,348 Short - term interest - bearing liabilities - - 7 1,447 1,454 3) - 1 7 1,423 1,4313) Other short - term provisions and liabilities 222 30 12 12,786 13,050 188 70 635 13,006 13,899 Total 222 279 9,034 144,542 154,077 188 320 9,737 137,723 147,968 1) To enable reconciliation with balance sheet items, financial instruments not valued at fair value as well as other assets and liabilities that are included within balance sheet items have been included within Other. 2) The Group’s loans are valued at amortized cost. Fair value on long - term loans amounts to SEK 115,690m (117,378). 3) The Group’s loans are valued at amortized cost. Fair value on short - term loans amounts to SEK 1,454m (1,431). ===== SIDA 24 ===== INVESTOR Q1 2026 – 24 Changes in financial assets and liabilities in Level 3 Group 3/31 2026 SEK m Shares and participations Other financial investments Long - term receivables included in net debt Other current receivables Long - term interest - bearing liabilities Other long - term provisions and liabilities Other current liabilities Opening balance at the beginning of the year 41,443 309 2,510 - 173 8,922 642 Total gain or losses in profit or loss statement in line Changes in value - 2,386 - 49 - - - - in line Net financial items - 2 - - 74 - 100 1 in line Foreign currency translation adjustment 97 9 - - - 176 - 4 Acquisitions 3,759 - - - - - 0 Divestments - 2,043 - - - - - 70 - Issues - - 37 - - 112 - Settlements - - - - - - 273 - 620 Carrying amount at end of the period 40,870 320 2,596 - 247 8,768 19 Total unrealized gains/losses for the period included in profit/loss for financial instruments held at the end of the period Changes in value - 2,578 - - - - - - Net financial items - 415 - - - - 104 - Total - 2,993 - - - - 104 - Group 12/31 2025 SEK m Shares and participations Other financial investments Long - term receivables included in net debt Other current receivables Long - term interest - bearing liabilities Other long - term provisions and liabilities Other current liabilities Opening balance at the beginning of the year 38,173 279 2,731 2 17 10,294 582 Total gain or losses in profit or loss statement in line Changes in value 1,549 - 312 - - 111 44 in line Net financial items - - 52 - 308 - 2 59 648 - 1 in line Cost of goods and services sold - - 0 - - - 59 - 30 Reported in other comprehensive income in line Foreign currency translation adjustment - 640 - 34 - - 4 - 1,104 - 97 Acquisitions 9,344 116 - - - 3 2 Divestments - 6,982 - - - - - 1,015 - 50 Issues - - 66 - 93 476 - Settlements - - - 21 - - - 204 - 38 Reclassification - - - - - - 229 229 Transfer out of Level 3 - - - 270 - - - - Carrying amount at end of the period 41,443 309 2,510 0 173 8,922 642 Total unrealized gains/losses for the period included in profit/loss for financial instruments held at the end of the period Changes in value - 1,308 - 233 - - 121 44 Net financial items 486 - - 308 - 134 - 609 - Total - 822 - - 76 - 134 - 487 44 ===== SIDA 25 ===== INVESTOR Q1 2026 – 25 Revenue from contracts with customers Group Q1 2026 Field of operations SEK m Healthcare equipment Life science Real estate Gripping and moving solutions Total Geographical market Sweden 302 53 91 25 470 United Kingdom 550 139 - 31 720 France 587 36 - 95 718 Germany 452 49 - 66 567 Rest of Europe 1,986 183 - 158 2,327 U.S. 8,248 922 - 273 9,443 North America, excl. U.S. 357 49 - 35 442 South America 88 35 - 29 152 Africa 83 45 - 2 130 Oceania 300 23 - 5 329 China 226 30 - 107 362 Asia, excl. China 269 146 - 53 468 Total 13,450 1,710 91 879 16,130 Category Sales of products 12,764 1,467 - 862 15,093 Sales of services 673 189 - 18 880 Revenues from leasing 12 49 91 - 152 Other income 1 4 - - 5 Total 13,450 1,710 91 879 16,130 Sales channels Through distributors 7,176 368 - 249 7,793 Directly to customers 6,274 1,342 91 631 8,337 Total 13,450 1,710 91 879 16,130 Timing of revenue recognition Goods and services transferred at a point of time 13,332 1,571 - 879 15,782 Goods and services transferred over time 118 139 91 - 348 Total 13,450 1,710 91 879 16,130 Group Q1 2025 Field of operations SEK m Healthcare equipment Life science Real estate Gripping and moving solutions Total Geographical market Sweden 279 39 67 28 413 United Kingdom 588 35 - 36 660 France 685 7 - 100 792 Germany 484 14 - 79 576 Rest of Europe 2,070 71 - 177 2,318 U.S. 8,953 358 - 297 9,608 North America, excl. U.S. 272 30 - 38 340 South America 110 3 - 26 139 Africa 126 1 - 2 129 Oceania 286 4 - 6 297 China 175 7 - 111 293 Asia, excl. China 346 23 - 57 427 Total 14,374 593 67 957 15,990 Category Sales of products 13,655 451 - 946 15,053 Sales of services 702 141 - 11 855 Revenues from leasing 14 - 66 - 80 Other income 2 0 1 - 3 Total 14,374 593 67 957 15,990 Sales channels Through distributors 7,950 250 - 241 8,441 Directly to customers 6,424 343 67 716 7,550 Total 14,374 593 67 957 15,990 Timing of revenue recognition Goods and services transferred at a point of time 14,171 556 - 957 15,685 Goods and services transferred over time 202 37 67 - 306 Total 14,374 593 67 957 15,990 ===== SIDA 26 ===== INVESTOR Q1 2026 – 26 Reconciliations of significant Alternative performance measures In the financial statements issued by Investor, Alternative performance measures (APMs) are disclosed, which complete measures that are defined or specified in the applicable financial reporting framework, such as revenue, profit or loss or earnings per sh are. APMs are disclosed when they complement performance measures defined by IFRS. The basis for disclosed APMs are that they are used by management to evaluate the financial performance and thus believed to give analysts and other stakeholders valuable informa tion. Investor AB discloses the definitions of all APMs used on http://www.investorab.com/investors - media/financials/definitions and on pages 190 - 192 in the Annual report 2025. Below reconciliations of significant APMs to the most directly reconcilable line item, subtotal or total presented in the financial statements of the corresponding period are disclosed. Gross cash Gross cash or Investor’s cash and readily available placements are defined as the sum of cash and cash equivalents, short - term investments and interest - bearing current and long - term receivables. Deductions are made for items related to subsidiaries within Patricia Industries. Group 3/31 2026, SEK m Consolidated balance sheet Deductions related to Patricia Industries Investor’s gross cash Group 12/31 2025, SEK m Consolidated balance sheet Deductions related to Patricia Industries Investor’s gross cash Other financial investments 20,099 - 594 19,505 Other financial investments 13,910 - 577 13,333 Cash, bank and short - term investments 27,695 - 9,822 17,873 Cash, bank and short - term investments 22,193 - 8,407 13,786 Gross cash 47,794 - 10,416 37,378 Gross cash 36,103 - 8,984 27,119 Gross debt Gross debt is defined as interest - bearing current and long - term liabilities, including pension liabilities, less derivatives with positive value related to the loans. Deductions are made for items related to subsidiaries within Patricia Industries. Group 3/31 2026, SEK m Consolidated balance sheet Deductions related to Patricia Industries Investor’s gross debt Group 12/31 2025, SEK m Consolidated balance sheet Deductions related to Patricia Industries Investor’s gross debt Receivables included in net debt 989 - 455 534 Receivables included in net debt 1,543 - 606 937 Loans - 122,117 70,375 - 51,741 Loans - 115,721 64,381 - 51,340 Provision for pensions - 958 855 - 104 Provision for pensions - 941 837 - 103 Gross debt - 122,086 70,775 - 51,311 Gross debt - 115,119 64,612 - 50,507 Net debt Gross debt less gross cash at balance sheet date. Group 3/31 2026, SEK m Group 12/31 2025, SEK m Investor’s gross cash - 37,378 Investor’s gross cash - 27,119 Investor’s gross debt 51,311 Investor’s gross debt 50,507 Investor’s net debt 13,933 Investor’s net debt 23,387 Total assets The net of all assets and liabilities not included in net debt. Total reported assets are based on reported values according to IFRS. Total adjusted assets are adjusted for estimated market values for Patricia Industries’ major subsidiaries and partner - own ed investments. Group 3/31 2026, SEK m Consolidated balance sheet Deductions related to non - controlling interest Investor’s net asset value Group 12/31 2025, SEK m Consolidated balance sheet Deductions related to non - controlling interest Investor’s net asset value Equity 985,138 - 275 984,863 Equity 953,898 - 193 953,705 Investor’s net debt 13,933 Investor’s net debt 23,387 Total reported assets 998,796 Total reported assets 977,092 Adjustment for estimated market value Patricia Industries holdings 140,200 Adjustment for estimated market value Patricia Industries holdings 133,378 Total adjusted assets 1,138,995 Total adjusted assets 1,110,470 ===== SIDA 27 ===== INVESTOR Q1 2026 – 27 Net debt ratio (leverage) Net debt ratio or leverage is defined as Net debt/Net cash as a percentage of total adjusted assets. The target leverage range is 0 - 10 percent (net debt to total adjusted assets) over a business cycle. Group 3/31 2026, SEK m Net debt ratio Group 12/31 2025, SEK m Net debt ratio Investor’s net debt 13,933 = 1.2% Investor’s net debt 23,387 = 2.1% Total adjusted assets 1,138,995 Total adjusted assets 1,110,470 Reported net asset value Reported net asset value is equal to Investor’s net asset value and equity attributable to owners of the Parent company. Adjusted net asset value Net asset value based on estimated market values for Patricia Industries’ major subsidiaries and partner - owned investments. The estimated market values are mainly based on valuation multiples, typically Enterprise value (EV)/Last 12 months’ operating profi t, for relevant listed peers and indices. More information about the assessment basis can be found in section Patricia Industries - valuation overview on page 8 and Patricia Industries, overview of estimated market values on page 30. In the table below the re are a reconciliation between Reported net asset value and Adjusted net asset value. More details regarding the differences can be found in the table Net asset value overview on page 4. Group 3/31 2026, SEK m Group 12/31 2025, SEK m Reported net asset value 984,863 Reported net asset value 953,705 Reported value for net assets Patricia Industries - 77,575 Reported value for net assets Patricia Industries - 74,733 Estimated market value Patricia Industries holdings 217,775 Estimated market value Patricia Industries holdings 208,110 Adjusted net asset value 1,125,062 Adjusted net asset value 1,087,082 Reported net asset value, SEK per share Equity attributable to shareholders of the Parent company in relation to the number of shares outstanding at the balance sheet date. Group 3/31 2026, SEK m Net asset value, SEK per share Group 12/31 2025, SEK m Net asset value, SEK per share Investor’s reported net asset value 984,863 = 321 Investor’s reported net asset value 953,705 = 311 Number of shares, excluding own shares 3,063,716,649 Number of shares, excluding own shares 3,063,309,055 Adjusted net asset value, SEK per share Total assets, including estimated market values for Patricia Industries’ major subsidiaries and partner - owned investments, less net debt in relation to the number of shares outstanding at the balance sheet date. Group 3/31 2026, SEK m Net asset value, SEK per share Group 12/31 2025, SEK m Net asset value, SEK per share Investor’s adjusted net asset value 1,125,062 = 367 Investor’s adjusted net asset value 1,087,082 = 355 Number of shares, excluding own shares 3,063,716,649 Number of shares, excluding own shares 3,063,309,055 ===== SIDA 28 ===== INVESTOR Q1 2026 – 28 Patricia Industries, key figures overview 1) Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 2026 2025 2025 2025 2025 2025 2024 2024 2024 2024 2024 Mölnlycke (EUR m) Sales 514 2,104 540 508 537 519 2,064 546 506 514 499 Sales growth, % - 1 2 - 1 0 5 4 7 8 9 8 4 Organic growth, constant currency, % 3 4 3 3 7 3 7 8 9 8 5 EBITDA 142 596 164 151 140 140 595 158 144 146 147 EBITDA, % 27.6 28.3 30.4 29.8 26.1 26.9 28.8 28.9 28.5 28.5 29.4 EBITA 2) 124 521 146 133 121 121 523 140 127 130 126 EBITA, % 24.0 24.8 27.0 26.3 22.5 23.3 25.3 25.6 25.1 25.3 25.3 Operating cash flow 132 443 179 128 88 48 453 132 118 115 87 Net debt 1,798 1,881 1,881 1,810 1,894 1,779 1,796 1,796 1,526 1,610 1,477 Employees 8,320 8,510 8,510 8,630 8,965 8,725 8,530 8,530 8,400 8,425 8,680 Laborie (USD m) Sales 138 484 128 121 121 115 436 115 112 108 102 Sales growth, % 20 11 11 8 12 13 22 19 26 21 21 Organic growth, constant currency, % 6 10 9 7 10 14 21 18 25 21 21 EBITDA 35 145 29 41 39 35 133 37 36 31 29 EBITDA, % 25.2 29.9 22.9 33.6 32.7 30.9 30.4 32.3 31.9 28.9 28.2 EBITA 2) 33 137 27 39 38 33 126 36 34 29 27 EBITA, % 23.9 28.4 21.5 32.3 31.1 29.1 29.0 31.2 30.5 27.2 26.7 Operating cash flow 2 134 40 36 35 23 87 26 27 22 12 Net debt 850 314 314 343 366 376 390 390 411 426 431 Employees 1,170 1,080 1,080 1,070 1,040 1,045 1,060 1,060 1,090 1,070 1,005 Nova Biomedical (USD m) Sales 175 659 175 154 159 171 621 160 160 144 157 Sales growth, % 3 6 10 - 4 10 8 9 11 14 6 5 Organic growth, constant currency, % 1 6 10 - 4 10 8 9 11 14 6 5 EBITDA 62 204 58 46 53 48 185 50 48 40 47 EBITDA, % 35.3 31.0 33.0 29.7 33.2 28.0 29.8 31.1 29.9 27.9 30.1 EBITA 2) 56 189 54 41 50 44 171 46 44 37 44 EBITA, % 32.3 28.7 30.9 26.6 31.3 26.0 27.5 28.9 27.6 25.4 27.8 Operating cash flow 61 169 31 42 n/a n/a n/a n/a n/a n/a n/a Net debt 726 778 778 792 n/a n/a n/a n/a n/a n/a n/a Employees 1,850 1,845 1,845 1,890 1,945 1,930 1,930 1,930 1,890 1,855 1,835 Sarnova (USD m) Sales 312 1,154 296 290 284 284 1,069 271 279 260 259 Sales growth, % 10 8 9 4 10 9 8 8 13 5 6 Organic growth, constant currency, % 4 4 6 3 7 2 3 1 5 0 6 EBITDA 53 202 43 55 53 50 173 45 52 36 39 EBITDA, % 16.9 17.5 14.6 18.9 18.8 17.7 16.1 16.8 18.7 13.8 15.1 EBITA 2) 47 178 38 47 48 45 152 41 46 31 34 EBITA, % 15.2 15.5 12.7 16.3 17.0 15.9 14.2 15.0 16.7 11.9 13.1 Operating cash flow 56 111 20 28 26 36 139 41 53 27 19 Net debt 939 973 973 817 784 704 723 723 733 757 462 Employees 1,935 1,935 1,935 1,560 1,540 1,525 1,515 1,515 1,515 1,465 1,440 Permobil (SEK m) Sales 1,377 6,161 1,573 1,537 1,515 1,536 6,518 1,744 1,652 1,639 1,483 Sales growth, % - 10 - 5 - 10 - 7 - 8 4 9 3 4 16 13 Organic growth, constant currency, % - 1 1 1 0 0 3 7 3 5 12 10 EBITDA 269 1,406 351 366 355 333 1,506 375 430 377 324 EBITDA, % 19.5 22.8 22.3 23.8 23.4 21.7 23.1 21.5 26.0 23.0 21.8 EBITA 2) 3) 207 1,179 295 313 298 274 1,288 317 375 323 273 EBITA, % 15.0 19.1 18.7 20.3 19.7 17.9 19.8 18.2 22.7 19.7 18.4 Operating cash flow 178 1,113 360 347 167 239 1,065 362 296 259 147 Net debt 4,186 4,092 4,092 4,440 4,753 3,393 3,774 3,774 3,740 3,826 3,340 Employees 2,065 2,020 2,020 2,015 2,030 2,040 2,045 2,045 2,035 2,020 1,935 Piab Group (SEK m) Sales 879 3,599 898 860 883 957 3,446 1,007 839 813 787 Sales growth, % - 8 4 - 11 2 9 22 12 24 10 3 9 Organic growth, constant currency, % 1 1 - 3 2 1 7 3 7 5 2 - 3 EBITDA 219 936 187 239 250 259 928 304 214 200 210 EBITDA, % 24.8 26.0 20.8 27.8 28.3 27.1 26.9 30.2 25.5 24.6 26.7 EBITA 2) 180 776 144 201 212 218 774 260 176 162 176 EBITA, % 20.5 21.5 16.1 23.4 24.0 22.8 22.5 25.8 21.0 19.9 22.4 Operating cash flow 90 722 177 180 172 193 658 281 147 139 91 Net debt 3,261 3,178 3,178 3,310 3,375 3,400 3,506 3,506 3,529 2,988 2,818 Employees 1,530 1,560 1,560 1,515 1,505 1,475 1,420 1,420 1,435 1,225 1,210 ===== SIDA 29 ===== INVESTOR Q1 2026 – 29 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 2026 2025 2025 2025 2025 2025 2024 2024 2024 2024 2024 BraunAbility (USD m) Sales 270 1,112 267 289 299 257 1,072 239 265 302 266 Sales growth, % 5 4 12 9 - 1 - 3 - 2 - 15 - 2 5 6 Organic growth, constant currency, % 5 4 12 9 - 1 - 3 - 2 - 15 - 2 5 6 EBITDA 34 142 27 42 41 31 120 17 29 39 35 EBITDA, % 12.5 12.7 10.0 14.6 13.8 12.2 11.2 6.9 11.0 13.1 13.2 EBITA 2) 28 120 21 37 36 26 95 8 24 34 30 EBITA, % 10.4 10.8 8.0 12.7 12.0 10.1 8.9 3.2 8.9 11.3 11.3 Operating cash flow - 6 92 3 26 54 10 75 14 29 38 - 7 Net debt 589 570 570 341 365 408 413 413 417 442 259 Employees 1,955 1,935 1,935 1,935 1,935 1,915 1,870 1,870 1,965 2,025 2,000 Vectura (SEK m) Total income 98 372 96 96 95 85 245 68 58 55 65 Total income growth, % 14 52 42 65 73 32 - 27 - 24 - 28 - 33 - 23 EBITDA 59 214 57 59 52 46 132 37 38 25 32 EBITDA, % 60.8 57.6 58.9 61.7 55.2 54.1 53.7 54.4 65.3 46.0 48.9 Operating cash flow 2) - 46 - 896 - 131 - 113 - 259 - 394 - 1,570 - 290 - 302 - 445 - 533 External net debt 4,144 4,056 4,056 5,123 5,232 4,860 3,283 3,283 2,603 2,216 1,690 Property portfolio value 7,915 7,738 7,738 8,874 9,031 8,688 8,490 8,490 7,295 6,968 6,650 Employees 45 40 40 40 40 40 40 40 40 40 45 Atlas Antibodies (SEK m) Sales 59 265 61 61 66 76 286 69 68 71 79 Sales growth, % - 22 - 7 - 11 - 9 - 7 - 3 - 23 - 16 - 4 - 35 - 29 Organic growth, constant currency, % - 17 - 4 - 6 - 4 - 2 - 3 - 23 - 17 0 - 35 - 30 EBITDA 15 61 7 14 17 24 96 21 20 24 31 EBITDA, % 24.5 23.2 10.8 22.4 25.9 31.3 33.5 30.8 29.0 33.4 40.0 EBITA 2) 6 29 - 1 6 9 16 63 13 11 15 23 EBITA, % 10.8 11.0 - 2.4 9.2 13.7 20.8 21.9 18.9 15.9 21.7 29.8 Operating cash flow - 7 48 12 10 6 20 71 21 6 14 30 Net debt 161 146 146 358 363 367 377 377 399 397 356 Employees 110 110 110 105 105 105 105 105 110 105 105 Tre Skandinavien Sales, SEK m 3,119 12,965 3,662 3,191 3,061 3,051 12,485 3,348 3,079 3,021 3,037 Sweden, SEK m 2,041 8,549 2,462 2,103 2,007 1,977 8,212 2,211 2,019 1,991 1,992 Denmark, DKK m 752 2,986 816 736 718 716 2,790 739 690 670 691 EBITDA, SEK m 1,191 4,438 1,130 1,181 1,047 1,080 4,244 1,053 1,131 1,045 1,016 Sweden, SEK m 881 3,210 827 844 756 784 3,045 757 805 746 737 Denmark, DKK m 216 830 206 228 198 198 783 192 212 195 184 EBITDA, % 38.2 34.2 30.9 37.0 34.2 35.4 34.0 31.4 36.7 34.6 33.4 Sweden 43.2 37.5 33.6 40.1 37.6 39.6 37.1 34.2 39.9 37.5 37.0 Denmark 28.7 27.8 25.3 31.0 27.6 27.6 28.0 26.0 30.7 29.0 26.6 Net debt, SEK m 6,023 6,441 6,441 5,690 6,125 6,623 6,950 6,950 6,806 7,110 7,344 Employees 1,935 1,850 1,850 1,865 1,900 1,880 1,895 1,895 1,885 1,865 1,830 1) For information regarding Alternative Performance Measures in the table, see page 17. Definitions can be found on Investor ’s website. 2) EBITA is defined as operating profit before acquisition - related amortizations. 3) EBITA 2025 restated. ===== SIDA 30 ===== INVESTOR Q1 2026 – 30 Valuation methodology Listed Companies Share price (bid) for the class of shares held by Investor, with the exception of Saab, Electrolux and Electrolux Professional for which the most actively traded share class is used. Ownership calculated in accordance with the disclosure of regulations of Sweden’s Financial Instruments Trading Act (LHF). ABB, AstraZeneca, Nasdaq and Wärtsilä in accordance with Swiss, British, U.S. and Finnish regulations. Includes market value of derivatives related to investments if applicable. Patricia Industries Subsidiaries Reported value based on the acquisition method. As supplementary information, subsidiaries are also presented at estimated market values, mainly based on valuation multiples for relevant listed peers and indices. Other methodologies may also be used, for e xample relating to real estate assets. New platform investments and major add - on acquisitions normally valued at invested amount during the first 18 months following the acquisition. Partner - owned investments Reported value based on the equity method. As supplementary information, partner - owned investments are also presented at estimated market values, mainly based on valuation multiples for relevant listed peers and indices. Financial investments Unlisted holdings at multiple or third - party valuation, listed shares at share price (bid). Investments in EQT Unlisted holdings at multiple or third - party valuation, listed shares at share price (bid). Patricia Industries, overview of estimated market values Supplementary information In addition to reported values, which are in accordance with IFRS, Investor provides estimated market values for the wholly - owned subsidiaries and partner - owned investments within Patricia Industries in order to facilitate the evaluation of Investor’s net asset value. This supplementary, non - GAAP information also increases the consistency between the valuation of Listed Companies and our major wholly - owned subsidiaries and partner - owned T re Skandinavien . Estimated market values While the estimated market values might not necessarily reflect our view of the intrinsic values, they reflect how the stock market values similar companies. Methodology The estimated market values are mainly based on valuation multiples (median), typically Enterprise value (EV)/Last 12 months’ operating profit, for relevant listed peers and indices. We define EV as quarterly volume - weighted average share price (VWAP) plus closing date net debt. While we focus on EBITA when evaluating the performance of our companies, for valuation purposes, EBITDA multiples are more commonly available, and therefore often used. From the estimated EV, net debt is deducted, and the remaining equity value is multiplied with Patricia Industries’ share of capital. Adjustments Operating profit is adjusted to reflect, for example, pro forma effects of completed add - on acquisitions and certain non - recurring items. An item is only viewed as non - recurring if it exceeds a certain amount set for each company, is unlikely to affect the company again, and does not result in any future benefit or cost. Acquisitions made less than 18 months ago are normally valued at cost. ===== SIDA 31 ===== INVESTOR Q1 2026 – 31 Investor in Brief Investor AB, founded by the Wallenberg family in 1916, creates value for people and society by building strong and sustainable companies. Through substantial ownership and board participation, we drive initiatives that we believe create value and support o ur companies to remain or become best - in - class. Our portfolio is organized in three business areas: Listed Companies, Patricia Industries and Investments in EQT. Our ultimate target Our ultimate target is to generate an attractive total return. Our long - term return requirement is the risk free interest rate plus an equity risk premium, in total 8 - 9 percent annually. Our total return objectives • Grow net asset value • Pay a steadily rising dividend • Operate efficiently and sustainably We create value for people and society by building strong and sustainable businesses